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Loans and finance receivables (Tables)
 9 Months Ended
Sep. 30, 2024
Schedule of receivables

Other receivables are comprised of the following (in millions).

 

September 30,
2024

 

 

December 31,
2023

 

Insurance and other:

 

 

 

 

 

Insurance premiums receivable

$

19,901

 

 

$

19,052

 

Reinsurance recoverables

 

5,199

 

 

 

7,060

 

Trade receivables

 

15,385

 

 

 

14,449

 

Other

 

5,647

 

 

 

4,269

 

Allowances for credit losses

 

(674

)

 

 

(656

)

$

45,458

 

 

$

44,174

 

Railroad, utilities and energy:

 

 

 

 

 

Trade receivables

$

5,642

 

 

$

6,034

 

Other

 

1,098

 

 

 

1,228

 

Allowances for credit losses

 

(152

)

 

 

(176

)

$

6,588

 

 

$

7,086

 
Loans and Finance Receivables [Member]  
Schedule of receivables

Loans and finance receivables are summarized as follows (in millions).

 

September 30,
2024

 

 

December 31,
2023

 

Loans and finance receivables, before allowances and discounts

$

28,907

 

 

$

26,289

 

Allowances for credit losses

 

(1,051

)

 

 

(950

)

Unamortized acquisition discounts and points

 

(750

)

 

 

(658

)

 

$

27,106

 

 

$

24,681

 
Schedule of reconciliation of allowance for credit losses on loans and finance receivables

Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables for the first nine months of 2024 and 2023 follow (in millions).

 

First Nine Months

 

 

2024

 

 

2023

 

Balance at the beginning of the year

$

950

 

 

$

856

 

Provision for credit losses

 

180

 

 

 

122

 

Charge-offs, net of recoveries

 

(79

)

 

 

(52

)

Balance at September 30

$

1,051

 

 

$

926

 
Manufactured Housing Loan Balances [Member]  
Summary of performing and non-performing home loans before discounts and allowances by year of loan origination A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of September 30, 2024 follows (in millions).

 

 

Origination Year

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Total

 

Performing

$

5,170

 

 

$

5,085

 

 

$

3,729

 

 

$

3,114

 

 

$

2,404

 

 

$

8,425

 

 

$

27,927

 

Non-performing

 

2

 

 

 

15

 

 

 

19

 

 

 

16

 

 

 

14

 

 

 

54

 

 

 

120

 

$

5,172

 

 

$

5,100

 

 

$

3,748

 

 

$

3,130

 

 

$

2,418

 

 

$

8,479

 

 

$

28,047